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intra day update
unity infra has given good upmove in lacklluster market.
look at NIRMA
it is improving with volume and may give good break out!
market has formed last bottom in june 2006 at 8800. we r in 19 th
month from that bottom.february will be 21 st month (fibo no) from
bottom,so monthly trend may become down from there. so i expect
january may see a top.
last time in may 2006 we saw a top at 12671 and in june 2006 bottom of
8800 was sen . good erosion in prices was seen.
at present we can see no of parametrs which can indicate top coming
soon.
* mid cap and small cap out performance
* decrease in large cap turn over and increase in mid/small cap turn
over
* buying circuits in no of small cap stocks
* -ve divergence on charts
* valuations
* up move of laggard sectors
* up move of defensive stocks
so i expect december to end with bullish note with nav lifting moves
and by mid jan new top formation , bearish period may prevail in feb/
mar and april.
buying calls r given but finally net cash generation is must and
disinvestment of medium term investment is must to take advantage of
correction.
members may share their views.this is a probability not a shorting
call.
PankajShah